§ 40-36-01 Short title
§ 40-36-02 Definitions
§ 40-36-03 Municipalities may refinance enterprise – Borrow money – Issue refunding bonds
§ 40-36-04 Refunding bonds authorized by resolution – Adoption – Taking effect
§ 40-36-05 Provisions governing issuance of refunding bonds
§ 40-36-06 Validity of refunding bonds
§ 40-36-07 Refunding bonds exempt from taxation – Exception
§ 40-36-08 Provisions that may be inserted in resolution authorizing issuance of refunding bonds
§ 40-36-09 Refunding bonds secured by a lien upon revenues of enterprise – Pledging fixed amount as security
§ 40-36-10 Additional security for refunding bonds – Contents of bonds with additional security
§ 40-36-11 No priority in refunding bonds of same issue
§ 40-36-12 Refunding bonds not a debt of municipality – Refunding bond to recite fund from which payable
§ 40-36-13 Exchange or sale of refunding bonds
§ 40-36-14 Recourse to general fund to pay refunding bonds prohibited – Credit or taxing power not pledged to payment
§ 40-36-15 Municipalities may appoint fiscal agent – Make rules and regulations governing
§ 40-36-16 Duties of municipality and officers
§ 40-36-17 General remedies of holders of refunding bonds – Receiver of enterprise
§ 40-36-18 Waiver of default or breach of duty or contract not to extend to subsequent default or breach of duty or contract
§ 40-36-19 Limitations on authorizations contained in chapter – Effect of chapter on bonds issued prior to March 12, 1937
§ 40-36-20 Construction – Procedure in issuance of refunding bonds
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Terms Used In North Dakota Code > Chapter 40-36 - Revenue Bond Refinancing Law

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • following: when used by way of reference to a chapter or other part of a statute means the next preceding or next following chapter or other part. See North Dakota Code 1-01-49
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Person: means an individual, organization, government, political subdivision, or government agency or instrumentality. See North Dakota Code 1-01-49
  • Property: includes property, real and personal. See North Dakota Code 1-01-49
  • Recourse: An arrangement in which a bank retains, in form or in substance, any credit risk directly or indirectly associated with an asset it has sold (in accordance with generally accepted accounting principles) that exceeds a pro rata share of the bank's claim on the asset. If a bank has no claim on an asset it has sold, then the retention of any credit risk is recourse. Source: FDIC
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See North Dakota Code 1-01-49
  • Statute: A law passed by a legislature.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: includes the District of Columbia and the territories. See North Dakota Code 1-01-49